No, obviously Bitcoins have no "intrinsic value". So they need an ATM where you can withdraw physical iron and copper bars. Those things have intrinsic value (and you might be able to get your head around it).

That one always cracked me up. If you live in an older house in the north country, you already seal your windows with plastic and some sort of tape every year, and it has nothing with ginned up scary stories about terrorists. It's so you don't freeze off your nethers.

It's not that folks "Don't get it". Bitcoin is backed by nothing, as indeed is Fiat currency. The USD is "Backed" by $17 Trillion in debt. That's why I don't trust the USD, I simply have no faith in The Fed. However, I have even less faith in a bunch of shady hackers creating encryption code which I'm sure the NSA is already capable of tracking right down the blockchain.

What YOU don't get (As, also the freegold folks) is that Gold IS money. Period.

I have a solution for Australia's problems. Instead of dispensing money the ATMs could dispense iron ore. They have lots of it and it's 100% backed by ... you guessed it ... iron ore. Admittedly at thirty cents a pound it's a bit harder to handle but everyone will get into tip top shape pronto. The Aussie Banks could then issue Iron Cards. These would be far superior to the Gold and Platinum cards of their competitors which are just cheap plastic.

You're an idiot. Fiat currency by definition is backed up by government force. What government is forcing me to use Bitcoin? Nothing is backing it up, but something, faith, is what backs it up. No force involved. Ergo it's something different than fiat currency.

The key to longevity is reinvention. Australia is in the process of reinventing itself, from being a mining vassal to China.

Australia now wants to become the prime money launderer and vehicle for securities fraud, pandering to both Chinese "private investment" and government backed entities, with funds channeled through Singapore, HK and BVI.

By now it should be obivious that if anyone cuts into the profits that Wall Street makes laundering money they will see a fleet of drones that will block out the sun. NWO Rule No. 1: Don't fuck with those who do God's work.

Correct Doc especially fucking wealthy Chinese who rip their own people off then invest in Oz property making it impossible for young locals to enter the market.Those that do end up with lifetime mortgages.

The Aussie bank notes are polymer (ie. plastic). They will actually float in water. Different sizes so the blind can safely give out the right bills. Hard to roll for the hookers and blow crowd. Levitate not so much.

For those that don't know, Bendigo bank came about as an alternative to the oligopoly known as "The Big Four". Yes, we have had a spate of people blowing up ATMs recently, but I don't know if any one particular brand of bank was targeted. Back to your scheduled programming ...

Hi DoChen. fonestar has tried holding physical cash... it's just so hard once you know "cui bono?" and the simple fact it's mathematically guaranteed to buy you less next year and ultimately implode into nothingness.

slightly off topic but has anyone figured out how much would US debt 100 years ago weigh in gold compared to current debt in paper? i mean literally, in tons or what have you. could be interesting juxtaposition